Offshore plays searching for support

SEMBCORP INDUSTRIES ($4.20) - Testing bottom of base
- Trying to find support at $4.12 to $4.16
- Prices may bound around the $4.20 level
- Resistance is at $4.40

EZION HOLDINGS ($1.10) - Trying to form a bottom
- Volume has been declining as prices fell
- At most prices may drift marginally below $1
- Resistance is at $1.135

EZRA HOLDINGS (54 cents) - Downtrend persists
- Temporary rebound is imminent
- Resistance appears at 59.5 cents
- Earlier break below 59.5 cents indicated target of 43 cents

KEPPEL CORP ($8.44) - Initial bounce, builds a base
- Volume started contracting as prices drifted lower
- Current rebound may find resistance at $8.70
- Prices have yet to establish a base
- Recent low of $8.01 and $7.91 should be viewed as support

NAM CHEONG (30.5 cents) - Downtrend underway
- Decline has just started
- Prices made a low of 29.5 cents on Dec 15
- Resistance is at 35 cents
- Target of 24 cents is likely to be reached

SEMBCORP MARINE ($3.12) - Starting base formation
- Bottom can only be confirmed if prices re-test their low of $2.85 and rebound
- Prices are unlikely to break above 50 day moving average before Christmas
- In the short term, prices may start to ease

(Source:  TheEdgeSingapore December 22 2014)

REITS continue to outperform

SUNTEC REIT ($1.945) - Somewhat overstretched
- Break above $1.86 indicates a target of around $2.02
- Volume surged as prices broke out suggesting genuine buying
- Support is at breakout level of $1.86

CAPITAMALL TRUST ($1.975) - Facing resistance
- Counter has lagged sector this year
- Quarterly momentum appears poised for a breakout
- If this materialises, prices will be able to move above resistance at $1.99 to $2.00 range
- Successful breakout indicates initial target of $2.12 and eventual upside of $2.22
- Support is at $1.96

GENTING SINGAPORE ($1.14) - Base formation
- Rebound is likely to fade shortly
- Resistance is at $1.15
- Volume has contracted as prices advanced a sign that up-momentum is depleting
- Support is at $1.08

CAPITARETAIL CHINA TRUST ($1.595) - Challenging resistance
- Counter appears poised for a rally
- Prices have found support at $1.59
- Volume surged as prices attempted to rise
- Resistance is at $1.63 level
- On breakout, upside of $1.80 is indicated
- Support is at $1.59

OLAM INTERNATIONAL ($2.13) - May ease from current levels
- Trend of this counter is basically downwards
- Immediate support is at $2.00 and a breakdown indicates an initial target of $1.80
- Resistance is lowered to the congestion around $2.20

YUUZOO CORP (51 cents) - Retreat underway
- Short term indicators are at the top of their range
- Retreat is likely to materialise
- Immediate support is at 50 cents and subsequent support is at 46 cents

(Source:  TheEdgeSingapore December 1, 2014)

Two-tier market

OVERSEA-CHINESE BANKING CORP ($10.35) - A blip now, more upside later
- Prices have risen since start of the month
- Counter may form a tweezers top, a minor top formation.  If so temporary resistance will be established at $10.50
- If this is breached, new upside is $11.10
- Support is at $10.20

DBS GROUP HOLDINGS ($19.56) - Facing resistance
- Prices may start consolidating their gains
- If uptrend is to be maintained support is at $19.20 to $19.30
- Breakout level is at $19.75
- Successful breakout indicates upside of $20.70

UNITED OVERSEAS BANK ($23.38) - Challenging resistance
- Prices are now challenging twice tested resistance at $23.50 level
- Successful breakout would point to retest of $24.10 resistance and indicate target of $24.50
- Support is at $23

GOLDEN AGRI-RESOURCES (45 CENTS) - Sharp sell-off
- Counter took a turn for the worse and collapsed on very high volume
- If prices break 45 cents it would form a bear flag and indicates a vertical measurement to 41 cents
- Move above 47 cents invalidates the bear flag

SEMBCORP INDUSTRIES ($4.62) - Decline halts, attempting base
- ADX is still high but is turning down suggesting that worst of decline is over
- Support is at $4.54
- Resistance is at $4.70

JARDINE C&C ($40.97) - Base formation
- 100 and 200 day moving averages are poised to form a dead cross
- In the near term, immediate decline has bee stopped
- Support has been established at $39.95
- Resistance appears at $42 and a breakout is unlikely this month

(Source:  TheEdgeSingapore November 24, 2014)

Receding tide sinks offshore plays

SEMBCORP MARINE ($3.53) - Breaks support
- Prices are testing lower boundary of sideways consolidation range
- Appear poised to break $3.58 level
- If it breaks $3.58, downside objective is at $3.30
- Largest declines are probably over
- Resistance is at $3.58

OLAM INTERNATIONAL ($2.41) - Upward push
- Staging a rebound on very low volume
- Resistance is at $2.40
- Breakdown level from the top formation at $2.44 provides next level of resistance
- Support is at $2.03

KEPPEL CORP ($9.30) - Receding down-momentum
- Downtrend is ongoing
- Largest price decline could be over
- Breakdown could materialize and area around $9 should halt the decline
- Resistance is at $9.60

NAM CHEONG (42 cents) - Facing resistance
- Appears stronger than its larger cap peers
- Break above 42 to 43 cents level will be an uphill task
- Prices are likely to move sideways before easing
- Support appears at 38.5 cents

WILMAR INTERNATIONAL ($3.17) - Chart pattern strengthens
- Base formation continues
- Prices are testing top of a multi-month base formation at $3.16 to $3.20
- Break above this level gives upside of $3.40

NOBLE GROUP ($1.275) - Temporary rebound
- Rebounding on significantly lower volume
- Resistance is near current levels at confluence of 50 and 200 day moving averages
- Support is at recent October low of $1.18

(Source:  TheEdgeSingapore November 17, 2014)

Property counters showing pockets of strength

CAPITALAND ($3.12) - Challenging resistance
- Counter has gained strength against the sector
- Breakout may not materialize yet
- Break above $3.23 would indicate a significant upside
- Support appears at 200 day moving average at $3.10

KEPPEL LAND ($3.27) - Facing resistance
- Volume has dwindled significantly suggesting that prices are still within consolidation/base formation
- Downside should be limited
- Support appears at $3.27
- Resistance is at $3.42

CITY DEVELOPMENTS ($9.41) - Starting to sag again
- Appears weaker than its large-cap peers
- Volume has dwindled, a sign of a base
- Downside is limited
- Prices may retest October low of $9.20
- Resistance is at $9.80

FRASERS CENTREPOINT ($1.605) - Decline persists
- Counter has the weakest chart among larger-cap stocks in the sector
- Prices appear poised to break below support at $1.59
- Break below support indicates downside for the stock with support at $1.40
- Resistance is at $1.66

SINGAPORE TELECOMMUNICATIONS ($3.80) - Attempting breakout
- Counter is attempting to push higher
- Prices could move above $3.80 to $3.84 range
- Immediate support is at $3.64 and a breakdown would point to retest of $3.35

GENTING SINGAOPRE ($1.04) - Attempting to halt
- Pace of decline of quarterly momentum has slowed significantly
- Suggest that declines are over and prices are likely to move sideways
- Support is at $1 but rebounds are unlikely to move much beyond $1.10 to $1.12 range

(Source:  TheEdgeSingapore November 10, 2014)

Oversold stocks await rebound

Keppel Corp ($9.36) - Finding support

- Counter is near, at the very least, an intermediate low

- New support is at $9.32

- Initial resistance is at $9.80

- Major support established in 2011 is at $8.60 to $8.65

Olam International ($2.09) - Downtrend to persist

- Earlier break below neckline formation indicated target of $2.08

- Temporary rebound is underway

- Downtrend has yet to run its course

- Prices are likely to move below October low of $2.03 towards $1.75

- Major support appears at $1.55

Golden Agri-Resources (51 cents) - Recovery underway

- Prices are in base formation

- Prices may have bottomed at 47 cents

- Break above 52 cents is needed to turn chart pattern more positive and this would indicate upside of 58 cents

Noble Group ($1.185) - Oversold pressures to trigger bounce

- Prices reached an intraday low of $1.12

- Hugh oversold pressures have built up which could trigger a bounce

- Resistance is at $1.25

- Downtrend has not run its course and may retest and break $1.12

Wilmar International ($3.18) - Attempting recovery

- Current moves are likely to be part of a broader base formation

- Immediate resistance appears at $3.18 to $3.20 range

- Breakout level for momentum is at its equilibrium line, which hasn't materialized yet

- When this occurs resistance is at $3.65 to $3.68 level

United Overseas Bank ($22.46) - Regains 200-day

- Prices have managed to regain 200 day moving average

- Prices have been on a downtrend since July

- Price resistance is at $22.54

- Breakout is required to provide upside which could be as high as $24

- Support is at 200 day moving average

(Source:  TheEdgeSingapore November 3 2014)

Quality stocks stage tentative rebound

SEMBCORP MARINE ($3.67) - Facing resistance

-          Prices tested the declining 50 day moving average

-          Largest falls could be over but a sustained upmove is weeks if not months away

-          Prices are likely to move sideways

-          Support appears at $3.58

SIA ENGINEERING ($4.60) - Attempting base formation

-          Over medium to longer term, counter may be attempting to form a base formation

-          Neckline likely to be established at $4.65

-          Resistance is at $4.65

-          A breakout is unlikely

SIA ($9.70) - Temporary support established

-          Prices are attempting to hold at current level

-          Since RSI is at its low, downside is likely to be limited

-          Rebound is likely to be limited to $9.80

SATS ($3.03) - Challenging resistance

-          Prices may ease from its current level of $3.02 to $3.05

-          Support is at $3

-          Near term range is likely to be narrow

-          A recovery is unlikely

ST ENGINEERING ($3.63) - Meets resistance

-          A temporary rebound is underway with resistance at $3.65 to $3.68

-          Downtrend is still in force

-          Quarterly momentum has formed  a positive divergence and should eventually lead to a breakout

-          Prices would be able to move above the $3.65 to $3.68 range and test $3.75 level

-          Support is at $3.54

TIGER AIRWAYS HOLDINGS (27 cents) - Endless decline?

-          Prices are in accelerated downtrend

-          Theoretical ex-rights price is around 23 cents and prices may stop their decline only when this level is reached

(Source:  TheEdgeSingapore October 27 2014)

Blue-chip selloff to abate

KEPPEL CORP ($9.56) – Accelerated decline to abate

-         In terms of support, prices are currently testing the year’s low

-         Target of $9.80 was reached a few sessions ago

-         Oversold pressures that have built up should trigger rebound to $9.80

SINGAPORE TELECOMMUNICATIONS ($3.70) – Struggling to stay afloat

-         Prices are in the process of breaking below 200 day moving average

-         Break below $3.70 to $3.73 neckline indicates a target of $3.49

-         Temporary bounce of some 10 to 12 cents should materlialise

CITY DEVELOPMENTS ($9.24) – Oversold pressures limit downside

-         The year’s low is at $8.71 and decline should to able to stop ahead of this level

-         Short-term stochastics is attempting a rebound

-         Moving averages are declining and unlikely to turn up this year

NAM CHEONG (36.5 cents) – Poised to break 200-day

-         Prices appear poised to sustain a break below the 200 day moving average

-         Directional indicators also confirm the downtrend

-         Break below 42 cents indicated a target of 36 cents

-         Any rebound is likely to be temporary with resistance at 38.7 cents

DBS GROUP HOLDINGS ($17.75) – Breaks below 50-day

-         Prices broke support at $18.20

-         Major support appears at $16.80

-         Prices may find initial support at 100 day moving average at $17.54

-         When counter stages its initial rebound, resistance appears at $18.04

SEMBCORP INDUSTRIES ($4.82) – Temporary bounce, further falls ahead

-         Quarterly momentum is likely to continue making new lows for a few sessions

-         Break below neckline at $5.18 indicates a target of $4.18

-         Any rebound is probably temporary with resistance appearing at the breakdown level

(Source: TheEdgeSingapore October 20 2014)

Situational stocks turn down

STATS CHIPPAC (57.5 cents) - Breaks down

- Prices are building a top

- Objective indicated from breakdown is at 45 cents

UNITED ENGIEERS ($2.84) - Loses momentum

- Prices could be building a top if quarterly momentum falls below support

- Stop loss level is at $2.76

- Break below would indicate target of $2.40

- Resistance is at $2.90

SINGAPORE POST ($1.85) - Struggling to stay afloat

- Counter is seen as a proxy to Alibaba

- Breakdown level is at $1.75

- Resistance is at $1.87

THAI BEVERAGE (74.5 cents) - Holding on to uptrend

- Uptrend remains very much in force

- Price support is at 71.5 cents

- Resistance is at 76 cents.  Break above this level may be difficult at this stage

SINCAP GROUP (14.1 cents) - Breaks support

- Prices broke support on Oct 7

- Break indicates target of 13 cents

- Prices will need to consolidate around 13 cents and build a base before attempting recovery

ROWSLEY (17.4 cents) - Should rebound off oversold low

- Prices are at 18 month low

- Oversold pressures should trigger temporary rebound towards 20 cents

- Next stage of downdraft depends on whether rebound causes a bear flag.

(Source:  TheEdgeSingapore October 13 2014)

Commodity stocks selloff

NOBLE GROUP ($1.28) - Sharp selloff

-  On Sep 30, prices fell below dead cross

- Breakdown indicates target of $1.15

- Downtrend is likely to last for a few months

- Resistance is at $1.30

WILMAR INTERNATIONAL ($3.02) - Breaks support

- Relentless decline shows no sign of letting up

- Break below $3.14 indicates a target of $2.78

OLAM INTERNATIONAL($2.28) - Breaks neckline

- Quarterly momentum has been falling since March

- Price break indicates target of $2.08

- Resistance is at $2.38

MEWAH INTERNATINAL (38 cents) - Down to one-third of IPO price

- Recovery is unlikely in the near term

- Temporary bounce may materialize but a successful break above 50 day moving average is unlikely

- Beak below 37 cents would take prices to new low of 30 cents

FIRST RESOURCES ($1.98) - Testing crucial support

- Decline has decelerated sharply

- If quarterly momentum turns down again prices could break below $1.96 indicating target of $1.80

- Top of the sideway range is $2.07 providing ceiling for any rebound

GOLDEN AGRI-RESOURCES (50.5 cents) - Attempting base

- Prices are attempting to bottom

- Signs of breakout are absent, suggesting that base formation may continue

- Support has been established at 50 cents

- Break above 52 cents is needed to turn the chart pattern more positive but breakout appears remote in the near term.

(Source:  TheEdgeSingapore October 6 2014)

Quality counters under pressure

SEMBCORP MARINE ($3.78) - Accelerated decline

- Prices are experiencing an accelerated downtrend

- Temporary rebound may materialise

- Resistance is at $3.84

- Earlier breakdown indicated target of $3.60

SEMBCORP INDUSTRIES ($5.22)

- Experiencing a temporary rebound

- Resistance is at $5.25

- Counter has not bottomed and likely to drift sideways and lower

- Support is at $5

COSCO CORP (68 cents) - Set for bounce

- Appears to have found support at 64 cents

- Rebound is imminent with resistance at 72 cents and 75 cents

STARHUB ($4.13) - Temporary rebound in force

- Temporary rebound is underway

- Resistance appears at $4.16

- Decline is likely to resume soon with support at $4.02

WILMAR INTERNATIONAL ($3.13) - Continues to drift lower

- Price broke below twice tested $3.14 level

- This is providing resistance as counter rebounds

- Next support is at $3

PACIFIC CENTURY REGIONAL DEVELOPMENTS (26.5 cents) - No follow-through

- Current level of 27 cents represents a high

- Prices may ease from here

- Support is at 26 cents

(Source:  TheEdgeSingapore September 29 2014)

Inherent weakness despite breakouts

THAI BEVERAGE (76 cents) - Upmove intact

- Uptrend remains very much in force

- Breakout above 70 cents points to measured move to 81 cents

- Support/stop loss should be raised to 70 cents

ASIAN PAY TV TRUST (90 cents) - Uptrend intact, consolidation likely

- Prices are losing steam

- Support appears at 87 cents

- Earlier break above 83 cents indicates target of 93 to 94 cents

CITY DEVELOPMENTS ($9.85) - Attempting rebound

- Support is at $9.77

- Quarterly momentum is stuck below its equilibrium line

- Break below $9.77 would reconfirm the downtrend

GUOCOLAND ($2.14) - Challenging top of base again

- Upmove was accompanied by volume expansion

- Resistance is at $2.17

- Retreat is likely to find support at $2.12

- If prices move above $2.17, next resistance appears at $2.28

NEPTUNE ORIENT LINES (97.5 cents) - Retreat in force

- Prices have broken below $1 line

- Counter may drift towards 95 cents

- An upturn would trigger rebound towards $1.035

OXLEY HOLDINGS (58.5 cents) - Breaking below support

- Prices appear poised to break below support of 62 cents

- A break indicates initial target of 52 cents

- Oversold position may trigger temporary rebound

- Resistance appears at 65 cents

(Source: TheEdgeSingapore September 15 2014)

Some stocks beak out, others retreat

KS ENERGY SERVICES (51 cents) - Attempts upmove

- Counter has established an uptrend

- Resistance is at 61 cents for now

- Price should be able to breach 61 cents eventually

KRIS ENERGY (81 cents) - Challenging top of base again

- May not be sufficient volume for prices to break resistance

- Resistance has been established at 84 cents

- Support is at 79 cents

- Successful breakout is unlikely but if materializes the upside is at $1.07

LINC ENERGY ($1.225) - Temporary bounce, decline intact

- Rebound does not appear to be sustainable

- Support is at $1.15 and break below this level indicates downside of 70 cents

- Resistance at $1.26 to $1.28 level

THE HOUR GLASS ($1.99) - Short-term overstretched

- Prices are at 10 year high

- Difficult to see much more upside in the near term

- Prices may inch towards $2.10

- Support is at $1.88

HIAP TONG CORP (15.6 cents) - Unlikely to break out

- Prices are in a one-year base formation

- Resistance appears at 18 cents

- Range remains narrow and support appears at 15.4 cents

HOTEL PROPERTIES ($4.15) - Poised for breakdown

- Prices are likely to be in top formation

- Quarterly momentum is declining

- A break below $4.10 completes the top and indicates downside of $3.70

(Source:  TheEdgeSingapore September 8 2014)

Situational stocks overstretched

STATS CHIPAC (66 CENTS) - On the high side

- Prices are retesting their June high

- At 68.5 cents, prices have actually made a one year high

- Breakout indicates target of 80 cents

- Stop loss level is at 60 cents

UNITED ENGINEERS ($2.85) - Overextended

- Prices are extremely overextended

- Price support is at $2.66

- Move below $2.76 would result in short term traders exiting

- Resistance is at $2.87

HALCYON AGRI RESOURCES (85.5 cents)  - Attempting recovery

- May continue to be weighed down by selling pressure

- Prices have sufficient impetus to test 88 cents

- Support has been established at 81.8 cents

THAI BEVERAGE (68.5 cents) - Shooting star appears

- Uptrend remains in force

- There is a shooting star that formed on Aug 22. 

- Support is at 65 cents

GENTING SINGAPORE ($1.23) - Short-term engulfing

- Downtrend remains in force

- Resistance appears at $1.26

- Moving averages remain negative

SEMCORP INDUSTRIES ($5.13) - Should rebound off oversold low

- Prices are set to rebound but move is likely to be temporary

- Resistance appears at $5.20

- Eventually prices may fall below $5

(Source:  TheEdgeSingapore September 1 2014) 

Rising tide lifts some stocks

NEPTUNE ORIENT LINES ($1.02) - Breaks out

- Prices move above twice tested resistance at $1

- Breakout indicates an initial upside of around $1.13

- Price support appears at 97.5 cents

COSCO CORP (73.5 cents) - Challenges resistance

- Volume has expanded with white candle days

- Neckline is at 75.5 cents

- Successful breakout indicates target of 87 cents

- Support is at 71.6 cents

SAMUDERA SHIPPING (17.5 cents) - Attempting recovery

- Prices are attempting to establish an uptrend

- Break above 17.5 cents indicates target of 25 cents

- Support is at 16.9 cents

KS ENERGY SERVICES (50.5 cents) - Attempting breakout

- Resistance is near current levels at 50 cents

- Successful break above 50 cents indicates target of 60 cents

- Support is at 47 cents

COURAGE MARINE (6.6 cents) - Attempting base formation

- Quarterly momentum is turning up

- Resistance is at its equilibrium line

- Break above eight cents is unlikely in next few weeks

- Prices may ease towards six cents

MERCATOR LINES (8.5 cents) - Decline remains in force

- Remains in a downtrend

- Earlier break below 9.5 cents indicated downside objective of 5.4 cents

- Resistance is at nine cents

(Source:  TheEdgeSingapore August 25, 2014) 

Property stocks weighted down by fundamentals

CITY DEVELOPMENTS ($9.78) - Breaks support

-  Fallen below its 200 day moving average

- Short term indicators are oversold

- Initial resistance at $10.00

- Support is at $9.40

WING TAI HOLDINGS ($1.85) - Retreat underway

- Support appears at $1.67

- Resistance at $1.94 level

- Any rebound will likely remain weak

HO BEE LAND ($2.19) - Set for a retreat

- 200 day moving average may provide support

- Rebound is temporary with resistance at $2.24 to $2.25 level

- Support is at $2.18 level

- Break below support indicates target of $1.97

UOL GROUP ($6.33) - Correction sets in

- Broken below 100 day moving average and support at $6.44

- Breakdown indicates target of around $6.00

- Rebound likely to be temporary

- Resistance is at $6.44 level

HOTEL PROPERTIES ($4.19) - Support/breakdown at hand

- Prices are testing 50 day moving average and support level

- Next important support is at $4.00

- Main support is at $4.00 and a break below indicates downside of $3.60

FRASERS CENTREPOINT LTD ($1.755) - Looking good

- Prices are attempting to move above minor resistance

- Price rise could occur in early September

- Counter could retest its year high of $2.00

- Support is at $1.70

(Source:  TheEdgeSingapore August 18, 2014)

Rotational interest buoys some laggards

OVERSEA-CHINESE BANKING CORP ($10.17) - Upmove underway

- Moving averages are turning positive

- Advance has yet to run its course

- Break above $9.80 indicated a target of $11.20

HI-P INTERNATIONAL (68 cents) - Temporary retreat possible

- Temporary retreat is likely in the short term

- Minor resistance appears at 68.5 cents

- Support is at 63 cents

- Breakout above 63 cents indicated a target of 80 cents

KEPPEL LAND ($3.51)  - Correction sets in

- Breakout above $3.44 to $3.48 was not sustainable

- Successful break above $3.48 would indicate target of $3.80

- Fail point of breakout is at $3.48

- Short term moves are likely to be downwards

- If prices break below $3.48, next support is at $3.30

 CAPITALAND ($3.38) - Temporary retreat

- Counter is on an uptrend

- Temporary correction is underway

- Support appears at $3.30 to $3.35

- Breakout indicates target of $3.65

DBS GROUP HOLDINGS ($18.14) - Consolidation imminent

- Upsurge is either over or almost over

- Prices are set to retreat to $17.50

- Resistance is at $18.30

UNITED OVERSEAS BANK ($22.64) - Short-term oversold

- Largest declines are probably over

- In the short term prices should rebound

- Rebound is likely to meet resistance at $23.38

- Correction/consolidation phase is likely to continue after rebound

(Source:  The Edge Singapore August 11 2014)